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Aerospace Insulation Market Outlook 2024: Exclusive Report By The Business Research Company
Aerospace Insulation Market
The Business Research Company offers in-depth market insights through Aerospace Insulation Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The aerospace insulation market size has grown rapidly in recent years. It will grow from $7.82 billion in 2023 to $8.62 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to regulatory requirements, aircraft ageing fleet, global trade and cargo demand, rise in defense budget, growth of the aviation industry.
The aerospace insulation market size is expected to see strong growth in the next few years. It will grow to $12.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to climate change mitigation, electrification of aviation, emerging markets. increased research and development investments, increasing import and export activity. Major trends in the forecast period include energy-efficient insulation, customized insulation solutions, eco-friendly insulation, lightweight insulation materials, improved fire resistance.
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Market Segmentation:
The main product types of aerospace insulation are thermal, acoustic, vibration, and electric insulation. Thermal insulation refers to lightweight fiberglass, insulation, and thin-film bagging material used to layer the aircraft's entire fuselage. Foamed plastics, ceramics, fiberglass, and mineral wood are the materials used in insulation. These insulation materials are placed near the engine and within the airframe. Commercial aircraft, military aircraft, and helicopters are uses aerospace insulation materials.
Major Driver - Rising Aircraft Manufacturing And Deliveries Fueling Aerospace Insulation Market Growth
The increase in aircraft manufacturing is expected to propel the growth of the aerospace insulation market. Aviation provides a rapid global transportation network, fostering economic growth, job creation, and promoting international trade and tourism. The increased passenger and freight air transport demand, followed by strong demand for new aircraft, have intensified competition among aircraft manufacturers. Due to this expansion, the companies have penetrated the aerospace business. For instance, according to a report published by an aerospace corporation, Airbus, in January 2022, it had achieved 611 deliveries in 2021, which is 8% higher than 566 deliveries in 2020, showcasing the company's whole product line's strength and signalling increased market confidence. Therefore, the increase in aircraft manufacturing and deliveries will drive the growth of the aerospace insulation market.
Competitive Landscape:
Major companies operating in the aerospace insulation market include BASF SE, AVS Industries Inc., 3M Company, Duracote Corporation, Boyd Corporation, Rogers Corporation, E. I. du Pont de Nemours and Company, Elmelin Ltd., Esterline Technologies Corporation, Evonik Industries AG, Johns Manville Corporation, Hutchinson SA, Polymer Technologies Inc., Orcon Aerospace Inc., Promat International NV, ThermoDyne Inc., UPF Corporation, Triumph Group Inc., Zotefoams plc, Zodiac Aerospace SAS, Morgan Advanced Materials plc, TransDigm Group Incorporated, PPG Aerospace a business unit of PPG Industries Inc., Unifrax I LLC, Armacell International S.A., Gencoa Ltd., Hi-Temp Insulation Inc., Insul-Therm International Inc., Thermal Control Products Inc., Thermal Structures Inc.
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Top Trend - Technological Advancements Driving Innovation In The Aerospace Insulation Market
Technological advancement is a key trend gaining popularity in the aerospace insulation market. Major companies operating in the aerospace insulation market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation aerospace insulation solutions into their products, such as soundproofing, heat-shielding materials, antimicrobial plastics solution, thermoplastic, ultra-lightweight thermal, acoustic insulation, melded microporous insulation, and others to prevent heat loss from the engine. For instance, in January 2023, Aerogel Core Ltd., a UK-based engineering company, launched ultra-light 'aerogels' insulation that can be used as soundproofing and heat-shielding materials for the aerospace and automotive industries.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aerospace Insulation Market Characteristics
3. Aerospace Insulation Market Trends And Strategies
4. Aerospace Insulation Market - Macro Economic Scenario
5. Aerospace Insulation Market Size And Growth
…..
27. Aerospace Insulation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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